TGS Vesting Under the 2020 Long-term Incentive Plan
07 Septiembre 2023 - 8:47AM
TGS Vesting Under the 2020 Long-term Incentive Plan
OSLO, Norway (7 September 2023) – Reference is made to
the stock exchange announcement on 10 August 2023 published by TGS
regarding vesting of Performance Stock Units (PSUs) and Restricted
Stock Units (RSUs).
As a consequence of the vesting, as announced on 10 August 2023,
TGS has now issued 103,020 shares.
The vesting of PSUs and RSUs granted by TGS in 2020 in
accordance with the terms of the 2020 Long Term Incentive Plan
resulted in the right for a total of 79 participants to request the
issuance of an aggregate of up to 131,977 shares of TGS common
stock pursuant to free-standing warrants subscribed by the
participant at the time of grant. Participants had the right
to request TGS to settle a portion of the vested units in cash to
allow satisfaction of employees’ tax withholding obligations
arising as a result of the vest.
Following the vest of PSUs and RSUs, an aggregate of 103,020 new
shares of TGS common stock have been issued to the 79 employees,
which amount is net of any units that were settled in cash.
The following reflects the shares issued to the primary
insiders:
---- Kristian Johansen – 11,002 shares
---- Jan Schoolmeesters – 3,049 shares
---- William Ashby – 3,393 shares
---- Tana Pool – 4,419 shares
---- Sven Larsen – 1,255 shares
---- Josef Heim – 1,665 shares
---- David Hajovsky – 1,054 shares
---- Whitney Eaton – 1,054 shares
---- Linda Santiago – 884 shares
---- Duncan Bate – 2,967 shares
---- Amund Soia – 727 shares
Attached is the list of primary insiders, reflecting the balance
of TGS shares and free-standing warrants held after the issuance of
shares described above.
Following the capital increase, TGS has a share capital of NOK
31.257.614, 50.
About TGSTGS provides scientific data and intelligence to
companies active in the energy sector. In addition to a global,
extensive and diverse energy data library, TGS offers specialized
services such as advanced processing and analytics alongside
cloud-based data applications and solutions.
Forward Looking StatementAll statements in this press
release other than statements of historical fact are
forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict and are
based upon assumptions as to future events that may not prove
accurate. These factors include volatile market conditions,
investment opportunities in new and existing markets, demand for
licensing of data within the energy industry, operational
challenges, and reliance on a cyclical industry and principal
customers. Actual results may differ materially from those expected
or projected in the forward-looking statements. TGS undertakes no
responsibility or obligation to update or alter forward-looking
statements for any reason.
For more information, visit TGS.com or contact:
Sven Børre LarsenChief Financial
Officerinvestor@tgs.com
- TGS_Primary Insiders Warrants Shareholdings_Sept 2023
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